Bengaluru, July 7, 2026
The Central Bureau of Investigation (CBI) has filed its 14th and 15th charge sheets in the ongoing investigation into large-scale homebuyers’ fraud, naming two Bengaluru-linked builder companies, their directors, and officials of leading financial institutions for their alleged role in cheating homebuyers, the official statement by the CBI said on Tuesday.
The chargesheets have been filed before the respective CBI courts in Bengaluru against Ithaca Estate Pvt Ltd and its director, officials of HDFC Bank Ltd, ICICI Bank Ltd and Indiabulls Housing Finance Ltd, as well as LGCL Urban Homes (India) LLP and its director in connection with alleged fraudulent activities relating to a housing project in Bengaluru.
According to the CBI, the investigation revealed that the accused builder companies and their directors, in conspiracy with bank officials and other private individuals, allegedly induced homebuyers and investors through false assurances and fraudulent representations to obtain financial benefits by resorting to illegal and deceptive means.
The agency said it has gathered substantial evidence during the investigation and has filed the charge sheets under relevant provisions of the Indian Penal Code about criminal conspiracy, cheating, criminal breach of trust and abuse of official position, as well as under the provisions of the Prevention of Corruption Act.
The CBI is currently investigating another 34 cases registered following directions issued by the Supreme Court against various builder companies and unknown officials of financial institutions across the country in connection with alleged cheating of homebuyers and diversion of funds.
Earlier, the agency had filed 13 chargesheets against several real estate firms, including Rudra Buildwell Constructions Pvt Ltd, Dream Procon Pvt Ltd, Jaypee Infratech Ltd, AVJ Developers (India) Pvt Ltd, CHD Developers Pvt Ltd, Sequel Buildcon Pvt Ltd, Logix City Developers Pvt Ltd, Manju J Homes India Ltd, Shubhkamna Buildtech Pvt Ltd, Ninex Developers Ltd, Decent Buildwell Pvt Ltd and Rudra Buildwell Projects Pvt Ltd, along with their directors and officials of various banks and financial institutions.
The CBI reiterated its commitment to ensuring accountability in cases involving economic offences, corruption and public fraud, particularly those affecting the interests of common citizens and homebuyers.(Agency)
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